Modi Group unveils Rs 6,000 cr investment plan for wellness cities in India

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Modi Group unveils Rs 6,000 cr investment plan for wellness cities in India

Modi Group unveils Rs 6,000 cr investment plan for wellness cities in India

Industry News
Jan 09,24

The firm has allocated Rs 1,000 crore for a 2 million sq ft healthcare initiative in Delhi's Saket, along with an integrated township project in Rampur, Uttar Pradesh.

Modi Group unveils Rs 6,000 cr investment plan for wellness cities in India

Modi Group, renowned for its real estate ventures in Singapore, New York, and Dubai, is set to invest Rs 6,000 crore in India over the next five years to establish wellness cities, as disclosed by Rajarshi Bhupendra Modi, the company's founder.

The firm has allocated Rs 1,000 crore for a 2 million sq ft healthcare initiative in Delhi's Saket, along with an integrated township project in Rampur, Uttar Pradesh.

Collaborating with Miami-based real estate giant David Lynd, Modi Group aims to develop residential buildings in Miami, USA, and Saket, New Delhi, under a unified global brand. The Rampur township project is already underway, introducing a hotel, cinema, and mall for the first time in the region, according to Modi.

The Saket health city will emerge as a comprehensive healthcare hub, featuring medical office buildings, wellness residences, and senior living facilities. The company, holding an old land parcel in Saket, plans to explore new cities for future land acquisitions, focusing on preventative healthcare, wellness, and technology-based infrastructure.

The envisioned development projects are anticipated to generate numerous direct and indirect employment opportunities across Indian cities. The company emphasises a wellness component in all its endeavours, with plans for a wellness resort in Dwarka, Gujarat, and exploration of development possibilities in Ayodhya.

Modi Yoga Retreat, already operational in Rishikesh, Uttarakhand, is poised for expansion with a new building in Rishikesh and a chain of retreats in Dwarka, Gujarat.

Additionally, Modi Group has invested Rs 2,000 crore in Modipur, Rampur, for the creation of a global smart city. This initiative encompasses multiplexes, malls, luxury hotels, urban residences, and futuristic manufacturing industries leveraging AI technology.

The ground-breaking ceremony for the Modi Aircrete and Ancillary Factory in Modipur has recently taken place, signalling a transformative approach to construction in India. The company aims to significantly reduce construction timelines with innovative methods.

Source: Indiatimes